Systems and methods for adaptive compression mode selection for memory buffers such as those used in or with a portable computing device (“PCD”) are presented. During operation of the PCD a first compression mode is selected for a buffer and the buffer is formatted to the first compression mode. Any access to the buffer by a component of the PCD, core of the PCD or software application running on the PCD is monitored. Based on the amount and/or type of access to the buffer, a second compression mode for the buffer is selected. The buffer is formatted to the second compression mode, providing a cost effective ability to adaptively format buffers based on the component(s), cores(s), and/or software application(s) accessing the buffers, and allowing for improving or optimizing bandwidth, memory footprint, resource conflict, power consumption, latency, and/or performance of component(s), core(s), or software application(s) accessing buffers as desired.